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The big uncertainty among investors going into this year’s US presidential election has come to pass - a knife-edge vote where the result has been delayed and the outcome will almost certainly be contested.

We expect some fairly sharp moves in financial markets in the next 48 hours or so, as more ballots are counted and investors get a clearer picture as to who has actually won.

This year’s US presidential election remains on a knife-edge and a result may not be known for a few days. Read on to find out how the FX market reacted to the overnight drama.

With the COVID-19 pandemic worsening and the UK government reintroducing tighter restrictions in an attempt to halt the virus’ spread, this Thursday’s Bank of England meeting takes on additional importance.

Americans head to the polls today for this year’s US presidential election. Read on to find out what to look out for on election night, and how the outcome could impact the FX market.

The dollar rallied last week as investors fret about Tuesday’s US election and the reimposition of lockdowns in Europe. In an action packed few days, the Bank of England and Federal Reserve will also both be meeting this week.

Risk assets were on the back foot again on Wednesday as France and Germany both announced new lockdowns designed to halt the spread of the COVID-19 virus. Focus today now shifts to this afternoon’s European Central Bank meeting.

This Thursday’s European Central Bank meeting creates an added risk factor for financial markets this week.

The euro and sterling both sank on Wednesday morning amid growing concerns regarding the possibility of second national lockdowns across the European continent.

Equity markets fell sharply on Monday with around a week to go until this year’s US presidential election. The major currency pairs, however, proved far more resilient, despite the recent sharp increase in COVID-19 cases in Europe.